Mumbai-based B2B pharma platform Fundly.ai has raised $4.9 million in a funding spherical led by present investors Accel and Multiply Ventures.

The spherical additionally included former RBL Financial institution govt director Rajeev Ahuja and a bunch of angel investors. Of the full $4.9 million, $900,000 was raised in enterprise debt from Alteria Capital.

Based in 2021 by Amit Chawla and Shreeram Ramanathan, Fundly was initially targeted on offering financing to pharmaceutical retailers and distributors.

“We began lending as a result of that was the ache which surfaced first,” Chawla, Fundly’s founder and CEO, stated.

“We began with vertical provide chain finance, however as we understood pharma higher, we realised there was an enormous quantity of commerce flowing via the sector, however there was no digital backbone,” he added.

Fundly now describes its enterprise round three areas, credit score, commerce and funds, geared toward serving to pharmaceutical companies procure inventory, entry working capital and handle transactions via an built-in platform.

Its commerce service, FundlyMart, permits retailers to purchase pharmaceutical merchandise from distributors. Chawla stated the startup has sought to combine credit score into the buying course of relatively than provide lending as a separate service.

Fundly stated its commerce, funds and credit score merchandise are designed to work collectively as a part of a broader digital system for pharmaceutical retailers and distributors.

The startup has additionally been growing funds infrastructure to assist distributors handle collections, payouts and reconciliation. It’s at present piloting its funds and settlement system in Pune, the place it has about 3,000 retailers and works with a number of distributors.

Fundly claims it at present works with about 3,000 distributors and operates throughout 48 cities.

In keeping with media reviews, the corporate generated income of about Rs 30.1 crore in FY25, up from Rs 6.6 crore within the earlier monetary 12 months, whereas internet loss widened to about Rs 11 crore in FY25 from Rs 5.8 crore a 12 months earlier.

The recent funding will probably be used to broaden Fundly’s commerce, funds and credit score operations throughout India’s pharmaceutical provide chain.

It beforehand raised $3 million in seed funding in 2023 in a spherical led by Accel, with participation from Multiply Ventures and angel buyers.